CMA fines former Chase Bank bosses, Deloitte over Sh10bn loan

The capital markets regulator on Wednesday fined Deloitte after the audit firm failed to detect a non-existent Sh2.1 billion Chase Bank account at the central bank that enticed bond investors to offer the collapsed lender billions. Moreover, three former Chase Bank executives and five board members have been penalized over their alleged role in the issuance of Sh10 billion medium-term bond in 2015. James Mbugua, Legal and Policy Consultant in Kenya joins CNBC Africa for more.
Thu, 04 Aug 2022 17:23:05 GMT